What is a Construction Loan?

Let us help you build your dream home! Building a new home is exciting and stressful. We want to help ease the stress for our members. Our mortgage professionals will guide you along the way. We offer construction loans with a one time closing process which smoothly transitions over to permanent financing.

  • Construction loans do expect you to make interest only payments on the amount of money borrowed during various phases of construction.
  • You will only pay interest on the money actually used by the contractor during the first 6 months.
  • After construction, the loan will be converted into a regular mortgage loan.
  • Construction loans usually require specialized insurance on the building site in the event of fire, theft or other destructive accident or disaster.

Let us help you begin building your dream home today!

Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.

Click here to Apply for a Loan Online

For more information about our current terms and rates call our Mortgage Lending Department: 800-272-6003 ext. 1474 or send an email request.

800-272-6003 EXT. 1474 FOR AVAILABILITY.

Whether you are purchasing, refinancing, building or using your equity, we offer mortgage products suitable for any lifestyle. We have trained mortgage professionals ready to answer your questions and help you find the loan that fits your needs. Let us help you determine the best and most economical mortgage product for you. We are able to provide Mortgage Lending Services in the following states: OH, WV, SC, NC, FL, TX and PA.